New bond from Nationwide

Nationwide Building Society is adding to its bond range with the launch of a new one-year fixed rate bond.

08:04 20 July 2004

Nationwide Building Society is adding to its bond range with the launch of a new one-year fixed rate bond.

It pays 5.20 per cent gross pa/AER or monthly interest of 5.05 per cent gross p.a./5.17 per cent AER and is available immediately.

This new bond is in addition to Nationwide's existing fixed rate bond range, which comprises of a two-year and a three-year fixed rate bond.

The former pays 5.40 per cent gross pa/AER or monthly interest of 5.25 per cent gross pa/5.38 per cent AER; and the latter is set at 5.50 per cent gross pa/AER or monthly interest of 5.35 per cent gross p.a./5.48 per cent AER.

Nationwide's executive director, Stuart Bernau, said: "We are delighted to be able to add this new one year bond, paying 5.20 per cent, to our existing product range."

He added: "Savers now have the choice of fixing their rate for a period of one, two or three years."

All three bonds are available to new and existing customers and can be opened at any branch with a minimum investment of 1.